gm - November 12th, 2022

gm 👋

Bitcoin breaks the $17k handle and is now at $16.8k, while Ethereum is holding on at $1258, a -1.5% move in 24hrs. The FTX saga continues as $600M gets siphoned out of the exchange in a supposed hack, draining most of what was left within their accounts. The hacker liquidated MATIC, LINK, AVAX, and USDT until Tether came in and blacklisted the wallet accounts. Elon Musk went on a Twitter space, attended by 60k+, and shared his story with meeting SBF, saying his “bullshit meter was redlining”. DOGE also pumped +5% as Elon just had to mention his beloved coin.

About $14M went through in NFTs today, with ETH-NFTs at $11M, Solana-NFTs and ImmutableX at $1M each, and Cardano at $400k. BAYC continues to hold the top spot with $2.6M in turnover across 34 apes traded. MAYC is in fourth with $800k on 56 apes trading. Otherdeed had a high turnover of $1.4M as lots of portfolios rebalance for liquidity and let go of the metaverse land — the floor price has broken 1 ETH, as the best bid sits at 0.94 ETH on OpenSea.

Snapshot of Blue-Chip NFTs

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NFT headlines:

FTX NFTs Provided Loophole For Non-Bahamas Residents Wanting to Withdraw Funds

NFTA-Z of how NFT ecosystem has been impacted by the potential collapse of FTX

The Fall of FTX Has Revealed Web3’s True Colors

Twitter Fiasco Reveals Why Web3 Social Media Platforms Are the Future